Ghana records 5.4% inflation rate in December 2025 – GSS

Ghana’s year-on-year inflation rate declined to 5.4 per cent in December 2025, marking the 12th consecutive monthly drop and the lowest level recorded since the rebasing of prices in 2021, the Ghana Statistical Service (GSS) has announced.

According to the GSS, the December figure represents a 0.9 percentage point reduction from the 6.3 per cent recorded in November 2025, and an 18.4 percentage point fall from the 23.8 per cent inflation rate recorded in December 2024.

The Consumer Price Index (CPI) for December 2025 stood at 261.7, up from 248.3 in December 2024, indicating that prices of goods and services rose by 5.4 per cent on average over the 12-month period.

On a month-on-month basis, inflation was 0.9 per cent, meaning the general price level increased by 0.9 per cent between November and December 2025.

The data show a significant moderation in food prices. Food and non-alcoholic beverages inflation fell to 4.9 per cent in December, down from 6.6 per cent in November 2025.

However, food prices rose by 1.1 per cent month-on-month during the period under review.

Non-food inflation also declined marginally to 5.8 per cent in December from 6.1 per cent in November, although non-food prices recorded a 0.6 per cent increase month-on-month.

Inflation for goods, which account for nearly three-quarters of the CPI basket, slowed to 5.8 per cent in December from 7.3 per cent in November, offering relief to consumers where spending pressure is highest. Goods prices, however, increased by 0.8 per cent month-on-month.

In contrast, services inflation rose to 4.5 per cent in December from 3.8 per cent in November, with services prices increasing by 0.9 per cent over the month.

The report highlights sharp regional differences in inflation across the country.

The Eastern Region recorded the highest inflation rate at 11.2 per cent, while the Savannah Region recorded the lowest at -1.2 per cent in December 2025.

The GSS noted that variations in local supply conditions, transport costs and market access may be contributing to the uneven inflation patterns across regions.

The Statistical Service said the steady decline in inflation signals that Ghana is firmly on the path to macroeconomic stability.

It urged government to stay the course on fiscal discipline, sustain efforts to stabilise food prices, and invest in storage, irrigation, transport and market access to reduce regional price disparities.

For households, the GSS advised prudent budgeting, tracking spending on essentials such as food, rent and school fees, and saving where possible, while businesses were encouraged to invest in efficiency and strengthen local supply chains as inflation pressures ease.